Minister of Finance Bill Morneau spoke with Ottawa business leaders today on the new Government of Canada’s first federal budget, Growing the Middle Class.

At the 2016 Post-Budget breakfast hosted by the Ottawa Business Journal and the Ottawa Chamber of Commerce, the Minister discussed the Government’s new approach to revitalizing the Canadian economy so that it works for the middle class, and those working hard to join it.

As one of its first actions, the Government introduced a tax cut for roughly 9 million middle class Canadians, and raised taxes for the wealthiest to help pay for it. Budget 2016 builds on this with a new Canada Child Benefit, which will put more money in the pockets of nine out of ten Canadian families, and lift hundreds of thousands of children out of poverty.

The Minister outlined these and other Budget 2016 measures in his speech, such as the Government’s vision to make Canada a global innovation leader, and opportunities for the country’s creative entrepreneurs and innovative companies to grow their businesses and enter global markets.

The Minister also highlighted the Government’s historic plan to invest more than $120 billion in infrastructure over the next 10 years, investments that will create a more modern, cleaner economy, a more inclusive society, and a country better positioned to compete globally.

Through Budget 2016, the National Capital Region and communities across the country will benefit from: $3.4 billion over three years for public transit through the Public Transit Infrastructure Fund; $5.0 billion over five years for green infrastructure to help protect the vitality of our lakes and rivers, and ensure the quality of our drinking water; and $3.4 billion over five years for affordable housing, early learning and child care, and cultural and recreational infrastructure.

The Minister noted that important investments would be made in the National Capital Region, in consultation with municipalities, the provinces of Ontario and Quebec, as well as other key stakeholders.

Quote

“Growing the Middle Class is a call to action. It calls on each and every one of us to take this moment in history and make it ours. Our plan is about revitalizing the economy and providing support for Canadian families. We know that the challenges we face will not be solved overnight, or by a single budget, but we are taking important steps towards renewing the optimism that comes with knowing we can leave behind a better life for our kids and grandkids.”

- Bill Morneau, Minister of Finance

Quick Facts

The National Capital Region will directly benefit from:

Up to $156.4 million to expand the Canada Science and Technology Museum through the construction of a new collection and conservation centre;

Up to $114.9 million to support the renewal of the National Arts Centre; and

Up to $9.6 million over two years to undertake needed repairs to the National Gallery of Canada—especially the soaring windows—iconic to Ottawans and visitors alike.